Former Interior Minister Moshe Arbel, who was appointed chairman of Mehadrin after retiring from political life, is expected to receive a salary and additional benefits for a position worth 80%, at an annual cost to the company of up to 3.4 million shekels.
According to a report by Amir Perger in Calcalist', The compensation package will be submitted for approval to the shareholders' meeting to be held in mid-September.
Arbel's base salary will be 100,000 shekels gross per month – a significant upgrade compared to the salary he received as a minister.
In addition to the base salary, Arbel will be entitled to an annual bonus of up to NIS 900,000 - equivalent to nine monthly salaries - subject to the company meeting targets set by the board of directors. In addition, Arbel will also receive an options package with a total value of NIS 3 million.
If he ends his position during his first year in office, Arbel will be entitled to an adjustment grant of 300,000 shekels. If his term ends at a later date, the adjustment grant will increase to 600,000 shekels.
